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Законодательство Российской Федерации

 

 

СОГЛАШЕНИЕ МЕЖДУ РОССИЙСКОЙ ФЕДЕРАЦИЕЙ И МЕЖДУНАРОДНЫМ БАНКОМ РЕКОНСТРУКЦИИ И РАЗВИТИЯ О ЗАЙМЕ ДЛЯ ФИНАНСИРОВАНИЯ ПРОЕКТА СТРУКТУРНОЙ ПЕРЕСТРОЙКИ УГОЛЬНОЙ ПРОМЫШЛЕННОСТИ (LOAN NUMBER 4058 RU) [АНГЛ.] (ЗАКЛЮЧЕНО В Г. ВАШИНГТОНЕ 28.06.1996)

(по состоянию на 20 октября 2006 года)

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                                                   Loan Number 4058 RU
   
                            LOAN AGREEMENT
                     (COAL SECTOR ADJUSTMENT LOAN)
           BETWEEN RUSSIAN FEDERATION AND INTERNATIONAL BANK
                  FOR RECONSTRUCTION AND DEVELOPMENT
                                   
                       (Washington, 28.VI.1996)
   
       Agreement  dated June 28, 1996 between Russian Federation  (the
   Borrower)  and  the  International  Bank  for  Reconstruction   and
   Development (the Bank).
       Whereas the Bank has received a letter dated May 22, 1996  from
   the  Borrower  describing  a  program of  actions,  objectives  and
   policies  designed  to achieve adjustment of  the  Borrower's  coal
   sector  (hereinafter called the Program), declaring the  Borrower's
   commitment   to  the  execution  of  the  Program,  and  requesting
   assistance  from  the  Bank in support of the  Program  during  the
   execution thereof; and
       Whereas  on the basis, inter alia, of the foregoing,  the  Bank
   has  decided  in support of the Program to provide such  assistance
   to  the  Borrower by making the Loan in two tranches as hereinafter
   provided;
       Now therefore the parties hereto hereby agree as follows:
   
                               Article I
                                   
                    General Conditions; Definitions
   
       Section  1.01. The "General Conditions Applicable to  Loan  and
   Guarantee Agreements for Single Currency Loans" of the Bank,  dated
   May  30, 1995 (the General Conditions) constitute an integral  part
   of this Agreement.
       Section  1.02.  Unless  the  context  otherwise  requires,  the
   several   terms  defined  in  the  General  Conditions   have   the
   respective  meanings  therein  set  forth  and  the  term  "Deposit
   Account" means the account referred to in Section 2.02 (b) of  this
   Agreement.
   
                              Article II
                                   
                               The Loan
   
       Section 2.01. The Bank agrees to lend to the Borrower,  on  the
   terms  and  conditions  set  forth  or  referred  to  in  the  Loan
   Agreement,  an  amount  equal  to  five  hundred  million   dollars
   (500,000,000 USD).
       Section 2.02. (a) Subject to the provisions of paragraphs  (b),
   (c)  and  (d)  of this Section, the Borrower shall be  entitled  to
   withdraw the proceeds of the Loan from the Loan Account in  support
   of the Program.
       (b)  The  Borrower shall open, prior to furnishing to the  Bank
   the  first  request  for  withdrawal from  the  Loan  Account,  and
   thereafter  maintain  in its central bank,  a  deposit  account  in
   Dollars  on  terms  and conditions satisfactory to  the  Bank.  All
   withdrawals  from the Loan Account shall be deposited by  the  Bank
   into the Deposit Account.
       (c) The Borrower undertakes that the proceeds of the Loan shall
   not  be  used  to  finance expenditures excluded  pursuant  to  the
   provisions of Schedule 1 to this Agreement. If the Bank shall  have
   determined  at  any time that any proceeds of the Loan  shall  have
   been  used  to  make a payment for an expenditure so excluded,  the
   Borrower  shall,  promptly upon notice from the Bank,  (i)  deposit
   into  the  Deposit Account an amount equal to the  amount  of  said
   payment,  or (ii) if the Bank shall so request, refund such  amount
   to  the Bank. Amounts refunded to the Bank upon such request  shall
   be credited to the Loan Account for cancellation.
       (d) No withdrawal shall be made from the Loan Account after the
   aggregate  of  the  proceeds of the Loan withdrawn  from  the  Loan
   Account  shall  have  reached the equivalent  of  250,000,000  USD,
   unless  the Bank shall be satisfied, after an exchange of views  as
   described  in  Section  3.01 of this Agreement  based  on  evidence
   satisfactory to the Bank: (i) that the macro-economic framework  of
   the  Borrower is consistent with the Program as determined  on  the
   basis of indicators agreed upon by the Borrower and the Bank;  (ii)
   with  the progress achieved by the Borrower in the carrying out  of
   the Program; and (iii) that the actions described in Schedule 3  to
   this  Agreement have been taken. If, after said exchange  of  views
   and  consultation  with  the Borrower, the Bank  shall  have  given
   notice  to  the  Borrower that the progress  achieved  and  actions
   taken are not satisfactory and, within ninety (90) days after  such
   notice,  the  Borrower shall not have achieved progress  and  taken
   actions  satisfactory to the Bank, then the Bank may, by notice  to
   the  Borrower,  cancel the unwithdrawn amount of the  Loan  or  any
   part thereof.
       Section  2.03. The Closing Date shall be December 31,  1997  or
   such  later  date  as  the  Bank shall establish.  The  Bank  shall
   promptly notify the Borrower of such later date.
       Section  2.04. The Borrower shall pay to the Bank a  commitment
   charge at the rate of three-fourths of one percent (3/4 of 1%)  per
   annum  on the principal amount of the Loan not withdrawn from  time
   to time.
       Section  2.05.  (a)  The Borrower shall  pay  interest  on  the
   principal  amount of the Loan withdrawn and outstanding  from  time
   to  time,  at a rate for each Interest Period equal to  LIBOR  Base
   Rate plus LIBOR Total Spread.
       (b) For the purposes of this Section:
       (i)  "Interest  Period"  means  the  initial  period  from  and
   including  the date of this Agreement to, but excluding, the  first
   Interest  Payment Date occurring thereafter, and after the  initial
   period,  each  period from and including an Interest  Payment  Date
   to, but excluding the next following Interest Payment Date.
       (ii)  "Interest  Payment  Date" means  any  date  specified  in
   Section 2.06 of this Agreement.
       (iii)  "LIBOR Base Rate" means, for each Interest  Period,  the
   London  interbank  offered rate for six-month  deposits  in  single
   currency  for value the first day of such Interest Period  (or,  in
   the  case  of  the initial Interest Period, for value the  Interest
   Payment  Date occurring on or next preceding the first day of  such
   Interest  Period),  as  reasonably  determined  by  the  Bank   and
   expressed as a percentage per annum.
       (iv) "LIBOR Total Spread" means, for each Interest Period:
       (A) one half of one percent (1/2 of 1%);
       (B)  minus  (or  plus) the weighted average  margin,  for  such
   Interest  Period,  below  (or above) the London  interbank  offered
   rates,  or  other  reference  rates,  for  six-month  deposits,  in
   respect  of  the Bank's outstanding borrowings or portions  thereof
   allocated  by  the Bank to fund single currency loans  or  portions
   thereof  made by it that include the Loan; as reasonably determined
   by the Bank and expressed as a percentage per annum.
       (c)  The Bank shall notify the Borrower of LIBOR Base Rate  and
   LIBOR   Total  Spread  for  Interest  Period,  promptly  upon   the
   determination thereof.
       (d)  Whenever, in light of changes in market practice affecting
   the  determination  of  the  interest rates  referred  to  in  this
   Section  2.05,  the Bank determines that it is in the  interest  of
   its  borrowers  as  a whole and of the Bank to apply  a  basis  for
   determining  the interest rates applicable to the Loan  other  than
   as  provided  in said Section, the Bank may modify  the  basis  for
   determining  the  interest rates applicable to the  Loan  upon  not
   less  than six (6) months' notice to the Borrower of the new basis.
   The  basis  shall  become effective on the  expiry  of  the  notice
   period unless the Borrower notifies the Bank during said period  of
   its  objection thereto, in which case said modification  shall  not
   apply to the Loan.
       Section  2.06.  Interest  and other charges  shall  be  payable
   semiannually on June 15 and December 15 in each year.
       Section 2.07. The Borrower shall repay the principal amount  of
   the Loan in accordance with the amortization schedule set forth  in
   Schedule 2 to this Agreement.
   
                              Article III
                                   
                         Particular Covenants
   
       Section 3.01. (a) The Borrower and the Bank shall from time  to
   time,  at  the  request  of either party,  exchange  views  on  the
   progress  achieved  in  carrying out the Program  and  the  actions
   specified in Schedule 3 to this Agreement.
       (b)  Prior  to each such exchange of views, the Borrower  shall
   furnish  to  the Bank for its review and comment a  report  on  the
   progress  achieved in carrying out the Program, in such  detail  as
   the Bank shall reasonably request.
       (c) Without limitation upon the provisions of paragraph (a)  of
   this  Section, the Borrower shall exchange views with the  Bank  on
   any  proposed action to be taken after the disbursement of the Loan
   which  would have the effect of materially reversing the objectives
   of  the  Program, or any action taken under the Program,  including
   any action specified in Schedule 3 to this Agreement.
       Section 3.02. Upon the Bank's request, the Borrower shall:
       (a)  have  the  Deposit  Account  audited  in  accordance  with
   appropriate   auditing   principles   consistently   applied,    by
   independent auditors acceptable to the Bank;
       (b)  furnish to the Bank as soon as available, but in any  case
   not  later than six (6) months after the date of the Bank's request
   for  such  audit, a certified copy of the report of such  audit  by
   said  auditors, of such scope and in such detail as the Bank  shall
   have reasonably requested; and
       (c)  furnish to the Bank such other information concerning  the
   Deposit  Account  and  the audit thereof as  the  Bank  shall  have
   reasonably requested.
   
                              Article IV
                                   
                    Additional Event of Suspension
   
       Section  4.01.  Pursuant to Section 6.02  (1)  of  the  General
   Conditions,  the  following additional event is specified,  namely,
   that  a  situation has arisen which shall make it  improbable  that
   the Program, or a significant part thereof, will be carried out.
   
                               Article V
                                   
                              Termination
   
       Section 5.01. The date ninety (90) days after the date of  this
   Agreement is hereby specified for the purposes of Section 12.04  of
   the General Conditions.
   
                              Article VI
                                   
               Representative of the Borrower; Addresses
   
       Section 6.01. The Minister of Finance or any Deputy Minister of
   Finance  of  the  Borrower is designated as representative  of  the
   Borrower  for  the  purposes  of  Section  11.03  of  the   General
   Conditions.
       Section  6.02.  The following addresses are specified  for  the
   purposes of Section 11.01 of the General Conditions:
   
       For the Borrower:
       Ministry of Finance
       Ilyinka Street 9
       103009 Moscow
       Russian Federation
                                                       Telex:
                                                       112008
   
       For the Bank:
       International Bank for
       Reconstruction and Development
       1818 H Street, N.W.
       Washington, D.C. 20433
       United States of America
       Cable address:                                  Telex:
       INTBAFRAD                                       197688 (TRT),
       Washington, D.C.                                248423 (RCA),
                                                       64145 (WUI) or
                                                       82987 (FTCC)
   
       In  witness  whereof, the parties hereto, acting through  their
   duly  authorized representatives, have caused this Agreement to  be
   signed  in  their  respective names in the  District  of  Columbia,
   United  States  of  America, as of the day  and  year  first  above
   written.
   
   
   
   
   
                              SCHEDULE 1
                                   
                         EXCLUDED EXPENDITURES
   
       For  purposes  of  Section  2.02 (c)  of  this  Agreement,  the
   proceeds  of  the  Loan shall not be used to  finance  any  of  the
   following expenditures:
       1. expenditures in the currency of the Borrower or for goods or
   services supplied from the territory of the Borrower;
       2. expenditures for goods or services supplied under a contract
   which  any  national  or  international  financing  institution  or
   agency  other than the Bank or the Association shall have  financed
   or  agreed  to finance, or which the Bank or the Association  shall
   have financed or agreed to finance under another loan or credit;
       3.  expenditures for goods included in the following groups  or
   sub-groups  of  the  Standard International  Trade  Classification,
   Revision  3  (SITC,  Rev. 3), published by the  United  Nations  in
   Statistical  Papers, Series M, No. 34/Rev.3 (1986) (the  SITC),  or
   any  successor groups or sub-groups under future revisions  to  the
   SITC, as designated by the Bank by notice to the Borrower:
   
   ---------T-----------T-------------------------------------------¬
   ¦ Group  ¦ Sub-group ¦          Description of Items             ¦
   +--------+-----------+-------------------------------------------+
   ¦ 112    ¦    -      ¦ Alcoholic beverages                       ¦
   ¦        ¦           ¦                                           ¦
   ¦ 121    ¦    -      ¦ Tobacco, unmanufactured, tobacco refuse   ¦
   ¦        ¦           ¦                                           ¦
   ¦ 122    ¦    -      ¦ Tobacco, manufactured (whether or not     ¦
   ¦        ¦           ¦ containing tobacco substitutes)           ¦
   ¦        ¦           ¦                                           ¦
   ¦ 525    ¦    -      ¦ Radioactive and associated materials      ¦
   ¦        ¦           ¦                                           ¦
   ¦ 667    ¦    -      ¦ Pearls, precious and semi-precious stones,¦
   ¦        ¦           ¦ unworked or worked                        ¦
   ¦        ¦           ¦                                           ¦
   ¦ 718    ¦   718.7   ¦ Nuclear reactors, and parts thereof; fuel ¦
   ¦        ¦           ¦ elements (cartridges), non-irradiated,    ¦
   ¦        ¦           ¦ for nuclear reactors                      ¦
   ¦        ¦           ¦                                           ¦
   ¦ 728.43 ¦    -      ¦ Tobacco processing machinery              ¦
   ¦        ¦           ¦                                           ¦
   ¦ 897    ¦   897.3   ¦ Jewelry of gold, silver or platinum group ¦
   ¦        ¦           ¦ metals (except watches and watch cases)   ¦
   ¦        ¦           ¦ and goldsmiths' or silversmiths' wares    ¦
   ¦        ¦           ¦ (including set gems)                      ¦
   ¦        ¦           ¦                                           ¦
   ¦ 971    ¦    -      ¦ Gold, non-monetary (excluding gold ores   ¦
   ¦        ¦           ¦ and concentrates)                         ¦
   L--------+-----------+--------------------------------------------
   
       4.   expenditures  for  goods  intended  for  a   military   or
   paramilitary purpose or for luxury consumption;
       5.   expenditures  for  environmentally  hazardous  goods  (for
   purposes  of  this  paragraph  the term "environmentally  hazardous
   goods"  means  goods, the manufacture, use or import  of  which  is
   prohibited   under  the  laws  of  the  Borrower  or  international
   agreements to which the Borrower is a party; and
       6.  in  furtherance  of the purposes of  Section  5.01  of  the
   General Conditions, expenditures
       (a) in the territories of any country which is not a member  of
   the  Bank or for goods procured in, or services supplied from, such
   territories or
       (b)  on  account of any payment to persons or entities, or  any
   import  of  goods,  if such payment or import is  prohibited  by  a
   decision  of  the  United  Nations  Security  Council  taken  under
   Chapter VII of the Charter of the United Nations.
   
   
   
   
   
                              SCHEDULE 2
                                   
                         AMORTIZATION SCHEDULE
   
   ------------------------------------T----------------------------¬
   ¦        Date Payment Due           ¦   Payment of Principal     ¦
   ¦                                   ¦(expressed in Dollars) <*>  ¦
   +-----------------------------------+----------------------------+
   ¦On each June 15 and December 15    ¦                            ¦
   ¦                                   ¦                            ¦
   ¦   beginning December 15, 2001     ¦                            ¦
   ¦   through December 15, 2012       ¦          20,835,000        ¦
   ¦                                   ¦                            ¦
   ¦On June 15, 2013                   ¦          20,795,000        ¦
   L-----------------------------------+-----------------------------
   
   --------------------------------
       <*>  The  figures  in this column represent Dollar  equivalents
   determined  as of the respective dates of withdrawal.  See  General
   Conditions, Sections 3.04 and 4.03.
   
   
   
   
   
                              SCHEDULE 3
                                   
                        ACTIONS REFERRED TO IN
                  SECTION 2.02 (D) OF THIS AGREEMENT
   
       1.  During  the  second half of calendar 1996,  the  Borrower's
   actual transfers from the allocation for state support to the  coal
   sector in the Borrower's 1996 budget
       (i)  to  federal  subjects  for the  development,  replacement,
   rehabilitation,   maintenance  and  operation  of   social   assets
   divested from the coal sector to local authorities, and
       (ii)  to  coal  companies  and  local  authorities  for  social
   protection,  including community support and  employment  programs,
   are  or  were  being made in accordance with the  schedule,  agreed
   upon by the Borrower and the Bank.
       2.  The  Borrower has demonstrated to the satisfaction  of  the
   Bank  that,  during the calendar quarter immediately preceding  the
   review  referred to in Section 2.02 (d) of the Agreement, no  state
   support  for  operating  losses was made available  to  coal  mines
   which  have recruited employees in excess of 1% of their respective
   total number of employees during such period.
       3.  The  Borrower's  proposal for state  support  to  the  coal
   industry  for 1997, the actual budget, if in place at the  time  of
   the  review referred to in Section 2.02 (d) of this Agreement,  the
   allocation of state support to the coal industry for 1997  approved
   by  the  Inter-Agency  Coal  Commission and  the  actual  quarterly
   transfers  during 1997, in case the review referred to  in  Section
   2.02  (d)  of  this Agreement takes place in 1997, incorporate  and
   are  consistent with the parameters agreed upon by the Borrower and
   the Bank.
       4.  The  Borrower has initiated the operation of  the  regional
   offices  of  the Federal Employment Services in all  regions  where
   mines  are  being  closed with adequate capacity  to  deliver  pre-
   redundancy services free of charge to employees prior to  cessation
   of  coal production for all coal industry employees of mines  whose
   closure has been announced.
       5.  The  Borrower  has established the necessary  institutional
   framework,   which  includes  the  participation  of  the   Federal
   Employment  Services,  and  has initiated  the  activities  of  the
   community  support  and employment programs,  agreed  upon  by  the
   Borrower  and  the  Bank in the Kuzbass, Eastern Donbass,  Pechora,
   Moscow and Kisel coal basins.
       6.  The Borrower has taken all actions required to be taken  in
   accordance  with the demonopolization program, agreed upon  by  the
   Borrower and the Bank.
       7.  The Borrower has demonstrated on the basis of social impact
   and  monitoring  reports, of such scope as agreed by  the  Borrower
   and  the  Bank,  for  the  calendar quarter  preceding  the  review
   referred  to  in  Section  2.02  (d)  of  this  Agreement,  overall
   compliance  with  social  impact indicators,  agreed  upon  by  the
   Borrower and the Bank, and has published such reports.
       8.  The  Borrower  has prepared and furnished  to  the  Bank  a
   financial impact monitoring report on the financial performance  of
   the  regional coal companies in such scope and detail as agreed  by
   the Borrower and the Bank.
       9.  The Borrower has submitted to the Bank audits on five  coal
   companies,  which  are main recipients of state  support,  in  such
   scope  and detail as has been agreed upon by the Borrower  and  the
   Bank.
   
   

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